During the economic crisis and recession that started in 2008, Tim Mahoney asked students how they were affected by the economic turndown.

The results revealed that many students’ parents were laid off and lost cars and houses, he said.

“What I saw was very profound, it was almost to the point where the students couldn’t go to school anymore,” the economics instructor said.

Ben Bernanke, the chairman of the Federal Reserve System under President’s George W. Bush and Barack Obama, will discuss his role in aiding the country’s revival from economic downfall at 6 p.m. Monday in the Physical Activities Center.

The visit is a part of the Romain College of Business’ innovative speaker series.

Bernanke also served as chairman of the Federal Open Market Committee, which is in charge of policymaking for the U.S. monetary system.

Mohammed Khayum, dean of the Romain College of Business, said the event will be more of a discussion than a lecture, which will allow for students, faculty and community members to submit questions to be answered by Bernanke.

Khayum said the questions have been sent to Bernanke and he will select which ones he will answer.

Bernanke was chosen, Khayum said, because he coincided with a desire to bring in someone who had characteristics students could aspire to emulate.

“We wanted someone who was very influential in the world and whose decisions have an impact on not just lives for today, but perhaps for the future,” Khayum said.

Bernanke took bold steps that were uncommon at the time, Khayum said, and as a result there is an argument that he helped the U.S. come out of the economic crisis.

The crisis caused numerous companies to fail, raised unemployment rates and increased foreclosures.

As chairman of the Federal Reserve System, Bernanke made creative, unique and innovative use of existing policy instruments.

“Because of those measures and steps, the economy was able to withstand the severity of the recession and slowly climb out to be in a position where we are today,” Khayum said.

He said he encourages all students to look at Bernanke’s visit as a once in a lifetime opportunity.

“They can look back at their USI experience and regard this as one of their most memorable experiences,” he said. “There will not be a case that many can state they have been able to see one of the most influential people in our 21st century.”

Khayum said the discussion will be a great opportunity to learn about the options Bernanke considered during the financial crisis, while also looking at the challenges he faced and how he feels now.

Mahoney said now that employment is up, he wants students to remember the financial crisis and understand the changes that were made.

“Since the recovery, you might say, everyone’s standard of living has started to improve,” Mahoney said. “(There is) reduction in unemployment, there are more jobs, the wage rate is starting to come up and the stock market is starting to move ahead. People on a day to day basis have more options in their lives.”